USPS asks for billions more in financial aid 2 years after getting $107 billion

[LAUREN TAYLOR]

TWO YEARS AFTER CONGRESS RELIEVED THE U.S. POSTAL SERVICE OF MORE THAN $100 BILLION IN OBLIGATIONS. THE MAIL SERVICE IS ONCE AGAIN SEEKING FINANCIAL ASSISTANCE.

IF USPS CANNOT SECURE ANOTHER $14 BILLION IN FUNDING, WE COULD SEE EVEN MORE IMPACTS TO HOME DELIVERY SERVICES.

ACCORDING TO THE WASHINGTON POST, TOP BIDEN OFFICIALS HAVE MET WITH REPRESENTATIVES OF THE POSTAL SERVICE’S LARGEST UNION — WHILE THE DOMESTIC POLICY COUNCIL HAS BEEN IN DISCUSSIONS WITH MAJOR CUSTOMERS LIKE AMAZON REGARDING THE AGENCY’S DELIVERY CHALLENGES AND FINANCIAL WOES.

NEARLY 20-PERCENT OF FIRST-CLASS MAIL WAS DELIVERED LATE IN THE MOST RECENT DATA FROM THE USPS — WITH SOME AREAS  EXPERIENCING SIGNIFICANTLY LOWER ON-TIME DELIVERY RATES — LIKE ATLANTA, WHICH SAW ONLY 43 PERCENT OF ITS MAIL DELIVERED ON TIME. 

LAWMAKERS AND ADVOCATES HAVE RAISED CONCERNS ABOUT POTENTIAL DISRUPTIONS TO MAIL-IN VOTING IN THE UPCOMING NOVEMBER ELECTIONS – DUE TO DELIVERY DELAYS AND ONGOING FINANCIAL TROUBLES AT THE POSTAL SERVICE.

LAWMAKERS HAVE RESPONDED BY PROPOSING LEGISLATION TO HOLD THE POSTAL SERVICE ACCOUNTABLE FOR LATE DELIVERIES, WHILE THE AGENCY ACKNOWLEDGES OPERATIONAL FAILURES AND HAS COMMITTED TO IMPROVING IT’S WAYS.

POSTMASTER GENERAL LOUIS DEJOY AND OTHER TOP AGENCY OFFICIALS ARE SCHEDULED TO TESTIFY BEFORE A SENATE HEARING TUESDAY TO ADDRESS ONGOING ISSUES THAT’VE BEEN PLAGUING THE MAIL CARRIER.

IN 2022 – CONGRESS APPROVED $107 BILLION TO USPS.

IN 2020 – THE AGENCY ALSO RECEIVED $10 BILLION FROM THE CARES ACT AND IN 2022 – RECEIVED ANOTHER $3 BILLION “TO PURCHASE ELECTRIC DELIVERY TRUCKS AND CHARGING STATIONS.”

HOWEVER — THE POSTAL SERVICE REPORTED A $6.5 BILLION LOSS IN FISCAL YEAR 2023 AND IS PROJECTED TO ACQUIRE MORE THAN $8 BILLION IN LOSSES FOR FISCAL YEAR 2024.